ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) Declares Dividend Increase – $2.81 Per Share

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) declared a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Investors of record on Monday, December 2nd will be given a dividend of 2.81 per share on Monday, December 9th. This represents a $11.24 annualized dividend and a yield of 46.34%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.93.

ZIM Integrated Shipping Services has a dividend payout ratio of 1,377.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect ZIM Integrated Shipping Services to earn ($0.73) per share next year, which means the company may not be able to cover its $3.72 annual dividend with an expected future payout ratio of -509.6%.

ZIM Integrated Shipping Services Stock Performance

ZIM stock traded down $2.76 during mid-day trading on Thursday, hitting $24.26. The company had a trading volume of 14,441,544 shares, compared to its average volume of 6,129,637. ZIM Integrated Shipping Services has a 12 month low of $6.39 and a 12 month high of $30.15. The stock’s fifty day moving average price is $22.55 and its two-hundred day moving average price is $20.38. The firm has a market cap of $2.92 billion, a PE ratio of -1.48, a price-to-earnings-growth ratio of 0.04 and a beta of 1.88. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.04.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings results on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $1.01. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.71 billion. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. During the same quarter last year, the company posted ($1.37) EPS. On average, analysts forecast that ZIM Integrated Shipping Services will post 13.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ZIM has been the subject of several research analyst reports. Jefferies Financial Group reiterated a “hold” rating and set a $25.00 target price on shares of ZIM Integrated Shipping Services in a research report on Wednesday. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Bank of America raised their price target on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Finally, Barclays upped their price objective on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $15.22.

ZIM Integrated Shipping Services Company Profile

ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.